This note presents off-balance sheet commitments given and received by the Group at 31 December 2021. The amounts of commitments correspond to non-discounted contractual values.
The table below shows off-balance sheet commitments given by the Group that have been valued. Other commitments are described separately in the detailed notes.
| (in millions of euros) | Notes | 31/12/2021 | 31/12/2020 |
|---|---|---|---|
| (in millions of euros) Operating commitments given |
Notes21.1.1 | 31/12/2021 54,268 |
31/12/2020 42,235 |
| (in millions of euros) Investment commitments given |
Notes21.1.2 | 31/12/2021 16,996 |
31/12/2020 16,494 |
| (in millions of euros) Financing commitments given |
Notes21.1.3 | 31/12/2021 5,837 |
31/12/2020 5,536 |
| (in millions of euros)TOTAL COMMITMENTS GIVEN | Notes
|
31/12/202177,101 | 31/12/202064,265 |
In almost all cases, these are reciprocal commitments, and the third parties concerned are under a contractual obligation to supply the Group with assets or services related to operating, investment and financing activities.
Operating commitments given by the Group are as follows:
| (in millions of euros) | 31/12/2021 | 31/12/2020 |
|---|---|---|
| (in millions of euros) Fuel and energy purchase commitments* |
31/12/2021 37,908 |
31/12/2020 24,715 |
| (in millions of euros) Operating contract performance commitments given |
31/12/2021 16,047 |
31/12/2020 17,151 |
| (in millions of euros) Operating lease commitments as lessee |
31/12/2021 313 |
31/12/2020 369 |
| (in millions of euros)TOTAL OPERATING COMMITMENTS GIVEN | 31/12/202154,268 | 31/12/202042,235 |
*Excluding gas purchases and related services.
In the course of its ordinary generation and supply activities, the Group has entered into long-term contracts for purchases of electricity, gas, other energies and commodities and nuclear fuel, for periods of up to 20 years.
The Group has also entered into long-term purchase contracts with a certain number of electricity producers, by contributing to the financing of power plants.
At 31 December 2021, fuel and energy purchase commitments mature as follows:
| 31/12/2021 | 31/12/2020 | |||||
|---|---|---|---|---|---|---|
|
Maturity |
||||||
| (in millions of euros) | Total | < 1 year | 1 à 5 years | 5 to 10 years | > 10 years | Total |
| Electricity purchases and related services (1) | 24,557 | 4,495 | 6,871 | 4,882 | 8,309 | 10,574 |
| Other energy and commodity purchases (2) | 346 | 82 | 159 | 105 | - | 308 |
| Nuclear fuel purchases | 13,005 | 1,585 | 5,620 | 4,337 | 1,463 | 13,833 |
| FUEL AND ENERGY PURCHASE COMMITMENTS | 37,908 | 6,162 | 12,650 | 9,324 | 9,772 | 24,715 |
(1) Including commitments given by controlled entities to joint ventures, amounting to €487 million at 31 December 2021 (€533 million at 31 December 2020).
(2) Excluding gas purchases and related services (see note 21.1.1.1.4).
Electricity purchase commitments at 31 December 2021 mainly concern EDF and EDF Energy. In the case of EDF many of these commitments are borne by the Island Energy Systems (SEI), which have made commitments to purchase the electricity generated using bagasse and coal.
The change over the year is mainly explained by the €12 billion increase in EDF Energy’s purchase commitments due to higher electricity prices and the volumes involved, particularly after signature of the 15-year power purchase agreement with RWE (for renewable energy to be produced once the Sofia offshore wind farm off the British coast is commissioned). The €2 billion increase in EDF and Luminus’ purchase obligations is explained by the rise in volumes and contract prices over the year.
In addition to the obligations reported above and under Article 10 of the Law of 10 February 2000, in mainland France, EDF is obliged, at the producer’s request and subject to compliance with certain technical features, to purchase the power produced by co-generation plants and renewable energy generation units (wind turbines, small hydro-electric plants, photovoltaic power, etc.). The additional costs generated by this obligation are offset, after validation by the CRE, by the CSPE. These purchase obligations total 54TWh for 2021 (59TWh for 2020), including 7TWh for co-generation (7TWh for 2020), 25TWh for wind power (31TWh for 2020), 11TWh for photovoltaic power (11TWh for 2020) and 4TWh for hydropower (4TWh for 2020).
